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Accenture had the following balance sheet amounts at the beginning of 2022: Total Assets $480,000 Common Stock 60,000 Retained Earnings 120,000 During the year, total
Accenture had the following balance sheet amounts at the beginning of 2022: Total Assets $480,000 Common Stock 60,000 Retained Earnings 120,000 During the year, total assets increased by $144,000 and total liabilities increased by $48,000. Owners invested an additional $24,000 in exchange for common stock and the company paid out $36,000 in dividends. No other transactions occurred except revenues, which totaled $264,000 for the year, and expenses. Retained Earnings on December 31, 2022 is:
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